The ongoing COVID situation means changes to how we do business.
If you are not able to visit us in person, or it is more convenient to work with us digitally, we have the capability and technology to make it easier for us to connect with you. Is it time to discuss your financial goals online?
We have also considered how we can do this in a safer online environment.
We want to make working with us as easy and convenient as possible. This is why we use technology to streamline the way we share information. With cyber attacks at an all-time high, we’re also taking steps to make sure we keep your personal information safe. You can share information with us without worrying it’ll end up in the wrong hands.
Digital Changes
Here’s what you can expect from us:
a secure network and up-to-date devices
regular back-up of our data
no shared accounts or passwords
a strong password management framework and two-factor authentication
password protected documents if we need to share your personal information
a process to report and resolve any suspicious activities or issues.
What can you do to further protect your personal information?
install anti-virus software on all your devices and regularly update the software
use a strong password or unique passphrase and activate two-factor authentication where possible
don’t share your personal information or whereabouts on social media
never give out your personal information over the phone unless you’ve properly identified the caller
and let us know if you see an email from us that you think may be a scam.
Protecting your personal information will always be a priority for us, and we will continue to make it easier, and safer, for you to work with us. We’d be happy to discuss your financial goals online if this is your preference. And hey, there’s no parking or traffic issues either.
If you are ready to connect with us online, we would love to hear from you, so please get in touch. Learn more about the Gold Coast based Wealth Planning Partners team here.
Links to book with your preferred Financial Advisor for an online Zoom appointment are as follows:
As a Financial Advisor, we often have clients come to see us without their spouses, for investment or financial planning session. But then, there’s also many that never visit without their other half.
So, having problems getting out of debt is our number one challenge with couples, and unfortunately has a severe impact their relationship. And, it’s not easy to experience the emotional turmoil that financial duress can have. Perhaps fights about money have become so regular that marriage is hanging by a thread and may not stand the test of time.
Key Takeaways
Research shows that more than half of marriages start off with a burden of debt.
Making use of a Budget Planner, recognising and practising discretional spending, and boosting income are typical ways that a couple can reduce, and in some cases, eliminate debt and regain their financial control.
In addition, couples can stop having arguments about finances by scheduling a weekly money “date” to discuss finances and sharing their family financial histories and experiences in a safe environment without judgement.
Exercise compassion and patience toward your partner to reverse any negative historical experiences. This will enable positive emotions and thought patterns when having a conversation about your financial concerns.
Hidden Spending and
Ok so we’ve all done it… don’t lie! Hidden spending habits, which are so justifiable in one’s own mindset. We all tell ourselves “it was on sale. So, I’m practically saving money!”. Or the common fib used by some are “oh this old thing? It’s been in my wardrobe for ages!” Meanwhile, your partner is probably questioning their own sanity thinking their memory is playing tricks. Or, they know you’re lying and are less than impressed.
It’s paramount to have aligned goals with your partner when it comes to getting out of debt and increasing savings. Make it a goal to take the emotion out of money. Do you feel better when you have purchased something for yourself? It is giving oneself a good ‘pat on the back’ for working so hard. We are bombarded with marketing everywhere we turn. Billboards and advertising constantly play on our emotions. They tell us subliminally “if you buy this product, you will feel better about yourself.” Or “this will give people a better perception of how successful you are”.
Today, people seem to value being recognised as being ‘successful’ or to be known as someone who is important, or of value. Individuals may feel that if they drive a certain car or can afford designer labels they will gain more respect by others. There is nothing wrong with having such material possessions or the creature comforts in life, however, there needs to be a healthy balance. It is easy to be trapped into living beyond ones means.
Unaligned Values or Goals
Sometimes we come across instances where one party in the relationship might spend more freely than the other, this can be met with frustration and irritation by the other spouse. It’s like watching a pressure-cooker on the verge of exploding… they reach a breaking-point and the emotional cracks rise to the surface to cause an eruption of some kind. Hurtful things can be said, which cannot be unheard, and it just snowballs from there.
If this sounds all too familiar, please know that you are not alone. According to a 2018 Fidelity study, more than half of couples getting married start off in the red. Even worse, 40% of indebted couples admitted it had a negative impact on their relationship.
Gold Coast based Financial Adviser Amanda Cassar of Wealth Planning Partners states: “Being a Financial Advisor, I have seen and experienced first-hand the negative tension that debt can have on a relationship. After spending time with clients, it’s clear to see that most couples want to save their relationship. That’s where we come in – We take the first step to initiate a tailored financial / investment plan to assist and alleviate their financial burden resulting in healthier financial life.”
Minimising Spending and Cutting Bad Habits
Speak with your partner and Financial Advisor about putting together a financial or investment plan. Set-up a clear budget that pinpoints where you can cut back on spending. Eliminate things like subscriptions and frequent dinners or takeaway. Cut back on bought lunches at work and the good old coffee habit. It also pays to take advantage of free facilities. Instead of joining a gym, make use of the free gym equipment down at the beach. Go for walks. Hey, even ride your bike to work if you are able to. Then you save on petrol too! Some measures may only be for the short time.
Create a Family Budget Together
Also, establish a grocery budget, and redirect any surplus into another account to be put towards debt repayments. Sometimes lowering spending isn’t enough. An increase in income may be required. If you’re a business owner, you might need to take on an extra client or two to give you that extra boost in income. Perhaps even a second job could help. Sell of unused items or monetise your side hustle.
And, set up a direct payment through your bank account to automate bill payments. It helps to know that your credit card and other payments are on a consistent scheduled date, that way you can just focus on making sure that the money is in your account ready at the time. It may be easier to break up payments into your pay cycle rather than waiting for monthly or quarterly invoices.
The Winning Factor!
The real breakthrough and victory for most couples is the fact that they start communicating more about their spending, savings goals, aspirations, and commenced planning for their financial future. Money goes from being a subject they fought about, to one they enjoyed spending time discussing without shame or blame.
To get to this point I highly recommend taking the time out to implement the following four simple rules:
Schedule weekly money dates
Weekly money dates will allow you and your partner to come into the conversation prepared, unthreatened, and ready to make progress. If these talks happen regularly, they won’t be left until something has gone completely wrong and off-track. Tempers and arguments are less-likely to get out-of-hand and are discussed more calmly and encourage growth and respect.
Share previous experiences about your family financial history with your partner
Don’t hide your previous experiences from your partner when it comes to your financial history. Learning how respective families talked about money and how these influences impact your current relationship. If one partner thinks it’s a taboo topic and normal to keep their spending secret, while the other wants expenses out in the open, there are bound to be expensive and painful miscommunications yet to be had. Go into the conversation with an open mind, find out what’s normal and what’s not in your partner’s eyes. What you thought was a bad-natured or deceitful act may have been a seemingly “normal” money habit to them, or vice versa.
Try to be more compassionate and exercise patience
Money issues are a bit of a touchy and sensitive subject and can impede on some peoples privacy whilst raising some deeply entrenched emotions to the forefront. By empathising with one another and allowing permission to admit past mistakes free of shame, this will welcome and encourage planning for the future. Remember that when dealing with personal finance, these issues touch more than a balance sheet. Pride, shame, and self-worth can easily be tangled up in discussions about money, so tread carefully and respectfully.
Create positive associations
So, by talking openly about financial aspirations and goals, you might find that a lot of fun was missing in your relationship when money was a source of stress. Once a plan is in place and clients see a viable path with managing their money, they actually enjoy their financial chats, since they now represented the positive possibilities awaiting them in the future, rather than feeling guilty and ashamed for not being where they want to be financially.
Time to manage financial stress
Also, it is extremely rewarding when you can see progress you make. This doesn’t mean every couple will have the same experience. But, they will have a better chance if they make the effort to start. Address conversations about money from an honest, open, and loving place. It takes sacrifice, commitment, checking your pride when necessary. Have a determination to follow a structured process to give you the best chance of success…
And, I’ve seen it happen, that’s why we are here! Reach out to the Gold Coast financial planning team at Wealth Planning Partners to chat further about your situation. We’d be happy to be an impartial third party in your money chats.
Taking care of household finances can be taxing, especially if you have a big family. But with proper planning and budgeting, there’s no need to stress. Here’s five financial tips for large families. Learn to more effectively manage your household finances.
Here’s Five Financial Tips for Large Families
1 | Examine your finances
Sitting down as a family and figuring out how much money is coming in and going out may help you gauge the state of your family’s finances. A clear picture of your household income and expenses will set you up to manage cashflow better.
2 | Rein in spending
Keeping expenses under control can be tough in a large household. But if you’re spending as much as or more than you’re earning, you might want to consider limiting your family’s discretionary costs by buying only what you can afford. Cutting back and living frugally can help you stay on track.
3 | Set financial goals
Setting financial goals as a family may help you work towards future aspirations instead of simply meeting current expenses. Whether it’s buying a bigger house or going on a dream holiday, having a financial goal may help your family set priorities and stay on track financially.
4 | Keep a budget
Keeping track of spending may help you to better manage your family’s finances. By working with a professional financial adviser or money coach, you could create a budget that factors in not only income and expenses, but also financial obligations. Make use of the MoneySmart Budget Planner if you need somewhere to start.
5 | Build up emergency and retirement funds
Unplanned expenses such as unforeseen medical bills can put a dent in family finances. By growing your emergency fund to cover six months’ worth of expenses, you may be better positioned to handle unexpected events.
While it’s easy to neglect your own financial future when providing for your family, saving for retirement should not take second place. Keep in mind that the earlier you start saving, the better chance you have to grow a sufficient nest egg.
Working with an adviser
Managing finances for a big family need not be a painful exercise. By working alongside a financial adviser to keep track of your spending, and discussing money matters openly, you can succeed. Set financial goals as a family to make handling household finances is a task you can achieve together Make sure you implement these five financial tips for large families.
Or, contact the team at Wealth Planning Partners on 07 5593 0855 to find out if we can assist your family with their household’s financial needs.
Here’s 5 tips you need to consider to getting ahead in your 40’s..
Being in your 40s requires balancing many responsibilities and it can become easy to neglect your own financial wellbeing. However, it’s not too late to secure your future. By now you might have kids, a substantial amount of debt, career responsibilities and new and old relationships to navigate. Here are 5 tips to financially getting ahead in your 40s.
1 |Create a financial plan
If you don’t have a plan, it’s time to get one. Ensure that it’s based on your needs and priorities. By working with a professional adviser, you will be more successful to tailor a plan that helps you optimise your ability to save and invest.
2 |Grow your savings
Your 40s could be your peak earning years, so it may be a good idea to increase your savings and set aside a portion of your income into your superannuation or investment accounts. However, be sure to do your homework and consult with a professional financial adviser about your options.
3 |Give your super a “health check”
A quick super health check may help you optimise your retirement savings. For example, by choosing an alternative investment option or type of risk, you may be able to earn better returns on your super. If you have multiple funds, consolidating your accounts may help you save on fees. Again, it is wise to seek advice from a professional adviser before acting.
4 |Avoid lifestyle creep
People generally have a tendency to increase their standard of living as they earn more as they can afford more things, such as a better car or house. While it’s only natural to want the finer things in life, you’ll likely end up with little to no financial gain if your spending rises as quickly as your income. Try being disciplined and be aligned to your long-term financial goals and remember the big picture.
5 |Consider investing more
Your 40s may be a good time to invest more – or, diversify your investments – to help you grow your long-term savings. But keep in mind that it’s important to choose instruments that suit your risk appetite and time horizon. Developing a strategy with your financial adviser might make it easier to achieve the return required to reach your financial goals.
Getting ahead in your 40’s
Getting ahead on your own can be a bit daunting. Consider working with a financial adviser if you need assistance to reach our goals. These five tips can help you reach your financial goals. It’s good to start early.
Visit the MoneySmart website if you’d like to find out more about where to start.
Or, if you’d like the assistance of a financial adviser, reach out to the team at Wealth Planning Partners. We’ve helped many to achieve their financial goals. We’re Gold Coast based, but look after clients both via Zoom and in person. Contact us on 07 5593 0855 to find out more.
“Early withdrawal of super” may leave youth $100k worse-off in retirement
Federal Opposition steps up attacks on coronavirus support measures. This allows people in hardship to withdrawal some super early.
Labour said the Covid-19 economic crisis will greatly affect the younger generation. It estimates someone aged 25 who withdraws $20,000 may be up to $100,000 worse off in retirement.
Early Access to Super Scheme
The opposition is stepping up attacks on government’s handling of early access to superannuation scheme. This enables those dealing with economic effects of Covid-19 to withdraw up to $10,000. And, people were able to access up to $10,000 last financial year.
Shadow assistant treasurer, Stephen Jones, states “young Australians have borne the brunt of this crisis and will be forced to continue to pay the cost in years to come”.
“After accounting for inflation and cost of living, a 25-year-old who withdraws $20,000 will be $80,000 to $100,0000 worse off in retirement. A 35-year-old who withdraws $20,000 will be around $65,000 worse off. Collectively, under 35s will be at least $51 billion worse off at retirement.” Jones.
However, the Labor party released estimates a few days after it asked the auditor general to look into failures in implementation of the scheme.
Early Super Scheme Releases to date
The superannuation early release program has currently paid out $32bn from retirement savings. This is is set to top $42 billion by December. Former PM, Paul Keating raised concerns 590,000 accounts had been withdrawn to a zero balance.
While Opposition says it supports the original intent of the scheme, it argues there has been insufficient checks. This is especially true on whether people accessing superannuation are in real hardship. Retirement savings have been exposed to fraudulent scams.
“They’re going to look back on this and think of this superannuation policy as being as dumb as the introduction of cane toads in Australia.” Jones told reporters, “this is a bad policy that has been poorly implemented.”
Fraud & Identity Theft
Allegations of identity theft involving 150 Australians prompted Government to temporarily halt withdrawals in May. Police froze $120,000, believed to have been ripped-off from retirement savings.
An interview with Guardian Australia and Assistant Minister for Superannuation, Jane Hume, said people had always been able to access their superannuation. This is especially true in times of financial distress. Hume accused Keating of being out of touch with needs of those who have early access to super.
“[It’s] extraordinary that a man in a Zegna suit on a generous parliamentary pension can sneer at the decisions made by ordinary Australians who are facing some of the most challenging economic circumstances we’ve ever seen,” Hume said.
And, Labour’s figures were based on the party’s own internal modelling.
Some calculations are broadly similar to estimates published by the Grattan Institute in the past last week. The thinktank argued much of the losses to such individuals would be offset by larger government-funded pension payments.
Long Term Outcomes
The Grattan Institute calculated a 35-year-old who took out $20,000 allowed under early release of superannuation would see total funds fall by about $80,000. Also, the institute indicated a person’s total retirement income would fall by only $24,000 in today’s dollars.
Brendan Coates, Grattan Institute’s household finances program director, said government’s priority when launching the scheme was to get money out quickly. However, he said it made sense to tighten checking of applications to ensure people were genuinely eligible.
And, Coates reaffirmed Grattan’s position the amount of compulsory superannuation paid should not increase, because of potential effects on wages.
Superannuation Contribution Increases
Hume told Guardian Australia scheduled increases in compulsory superannuation from 9.5% to 12% were already legislated. It would be “very difficult to unwind”.
Government has “no plan” to abandon superannuation guarantee increases. However, it would be “irresponsible” not to consider trade-offs between superannuation increases and wages.
Therefore, the government is considering a retirement incomes review. This was submitted to the prime minister and treasurer in late July.
If you’d like to discuss whether the withdrawal is right for you, please contact the team at Wealth Planning Partners to assess your situation.
Melbourne continues to suffer under lockdowns. Stage 4 lockdowns announced by Victorian Premier, Daniel Andrews, along with shutdowns of particular industries, are said to have delivered a hammer blow to the Australian economy.
Federal Treasury forecasts require Prime Minister, Scott Morrison, to inject substantial amounts of money into Victoria. This is to avoid prolonging what is already classified as an economic disaster.
Australia’s second-biggest state, by population and economic output, has been in an increased state of reinforced lockdown conditions.It has been almost a month and will now go into a state of near hibernation for at least another six weeks or more.
The Federal government may need to provide financial aid to sustain Victorian economy to mitigate flow-on effects throughout Australia.
Jobkeeper
The down-turn in economic effects will be felt across Australia. Many who believe JobKeeper and JobSeeker support can be safely reduced at the end of September, (less than 60 days away) – is a dangerous fantasy. Melbournians continue to suffer the effects of long term lockdowns.
“That will mean there are less people working less shifts,” Andrews said. “There is less contact. There is less seeding of this virus from workplaces back into families and throughout the Victorian community.”
A third group will have to temporarily, but entirely, shut down. Andrews was not able to confirm which industries will fall into which category. However, COVID has spread through some industries such as meat works.Industries hardest hit have a high count in casual employees where people work within close proximity.
Andrews repeatedly said it is a huge cause for concern that casual workers keep turning up to work when they feel unwell because they fear they will never get another shift.
Stay at Home
The Victorian government offers $300 for people to stay home between getting tested and getting their results. This is enough to cover a few of their shifts.However, it raises the question for employees “if you’re thrown off the books, what are you supposed to do after?”
The Government has also provided a $1,500 payment for people who test positive, but take-up has been poor. Forcibly shutting high-risk industries should stem infections at work, but the cost to workers will be enormous.
The hit will also be felt through the economy across Australia as spending vanishes and the goods and services they supply diminish. People are losing jobs and it’s older workers who are feeling the effects the most.
Hospitality Sector
Workers in the devastated hospitality sector, who though they could get back to work, now have no chance. Workers hit hard by this new wave of chaos will need money from the government in order to eat and pay bills.
The question is: which government? The Victorian government’s finances must be nearing their limits. On the other hand, the Commonwealth apparently has oodles of spare capacity to borrow at the lowest interest rates in history.
Reach out
If you’d like to discuss your financial situation of eligibility for government payments, please reach out to your local Gold Coast financial planning team. The Advisers at Wealth Planning Partners are available on 07 5593 0855 between 9 and 5 most days.
The COVID-19 pandemic led to a global recession unfolding within the space of two months, with share markets collapsing and then staging a strong recovery. Markets have performed strongly even as we remain in the midst of tumultuous recession and a worsening global pandemic. So if we’re in the midst of a global recession, just why has the sharemarket rallied?
Two types of data have been used to help understand the collapse and rapid rally of share markets throughout the month of June:
Business survey data, aka Purchasing Manager Indices (PMI), are available for most economies and track expected future production.
High frequency (daily) data produced by technology applications track day-to-day travel and purchases by the household sector.
What does the business survey data tell us?
Substantial shifts in PMI surveys have been linked to changes in expected earnings that companies are predicting.This generally drives up share market returns. We have seen share markets rally as global PMI surveys lifted firmly through June.
This rapid recovery reflects massive support governments and central banks have provided, stepping in to stimulate economies.
Assessing technology platform data
High frequency data hasn’t been around for long but given its daily and weekly nature, it is a useful way to track economies. This also provides a good ‘check’ when looking at the lift in earnings expectations from the PMI data.
Transport
Looking at transport data, where increased movement indicates that economies are ‘opening up for business’ again, the data has broadly improved in-line with the bounce in PMIs. Apple transport data for driving and public transport has recovered from the mid-March low.
However, across regions the recovery has been uneven with Europe (except for the UK) and Japan showing the strongest recovery. Driving in the US has recovered above January levels.However, in contrast to the EU and Japan, public transport remains well below peak levels.
Consumer Data
When we assess high frequency consumer data in the US, we can see that consumption has recovered from a fall of around 35% post-lockdown (to be down around 7%).
In the last week of June, possibly reflecting the recent surge in cases, the improvement in both Apple mobility and consumer data has flattened in July to be down around 9%. The data tells that overall, the sharemarket rally has been supported by a solid bounce in key leading indicators since the lockdown collapse.
The US sharemarket has seen technology (growth) stocks lead the recovery. Other markets such as the EU and Japan should now build support. China’s economy appears to continue to recover from the pandemic, supporting markets, and has now overtaken recovery in US markets. The Australian share market, still recovering, has lost some momentum with the spike in COVID cases in Victoria.
What may be ahead?
Overall, the rapid and broad-based improvement in both PMIs and high frequency data appears to be flattening out in the month of July. The indicators suggest that markets have captured the initial bounce and are now consolidating. The next catalyst is likely to be the timing and effectiveness ofvaccines made broadly available. Initial news seems to be positive, but until there’s some greater clarity from the current vaccine trials, markets could track sideways or possibly weaken if the infection rates in the US continue to advance. In these challenging times it’s wise to seek professional financial advice if you’re feeling concerned about your investment strategy.
A qualified financial adviser can support you to assess your short and longer-term financial goals, which may help to provide peace of mind with regards to any concerns about the current market environment.
Financial abuse can affect clients of all backgrounds. It occurs in over 90% of all domestic violence cases. It is time for economic abuse training for advisers so they can better meet the challenge. Many advisers admit they unsure of the red flags of financial abuse. And sadly, what to do if they encounter it.
Economic abuse is when one person has control over another’s access to financial resources. It was recognised as abuse in the domestic abuse bill after calls to make it a criminal offence.
The course is a training and certification programme to help advisers understand the signs of abuse. And importantly, know how to assist clients. Therefore, the online training consists of video interviews with abuse survivors, advisers and lawyers. It includes reading materials, quiz questions, references and case studies. At the end, you will have devised your own internal Procedure to deal with cases you encounter.
Advisers need to “know their clients”
Wealth Planning Partners director Amanda Cassar says: “As advisers we must know our clients in order to give appropriate advice. And, economic abuse can occur regardless of socio-economic standing, education, race or ethnicity.”
Cassar, a global ambassador for financial abuse prevention and remediation, added: “There is no cookie-cutter approach to assisting clients. But, you can help reduce the risk of exposure to financial abuse through education. Also, through advising clients about protection options such as trusts or binding financial agreements.”
Certification
To achieve the Financial Abuse Specialist certification, course participants are invited to submit testing materials. The certification aims to help consumers identify advisers with the expertise and resources to support them.
Read more about economic abuse and how to get involved with this training programme in the magazine this week.
Have you heard about the reduction in Account Based Pensions and minimum draw downs?
Capital losses from falling share prices are realised only if the company goes into liquidation or the shares are sold. Reducing the amounts drawn down from account based pensions can help investments last longer.
Market Ups and Downs
Leaving investments intact may well offer the best chance to rebuild balances when markets pick up again, as they eventually do. But, this holding pattern can be hard for older people with account-based pensions. This is due to the requirement to draw a minimum income each year. For many people in residential care, this could be 7-15% of the balance at July 1.
Reductions in Account-Based Pension draw downs
Halving the draw-down amount is similar to a measure the government took as a result of the 2008 global financial crisis. The minimum income levels will again be halved for this financial year and next year. If the cash flow is not needed, people might wish to reduce their pension withdrawals. This could be especially so where higher Centrelink pensions may be likely.
Graham is 85 and living in an aged care facility. His account-based pension had a balance of $220,000 on July 1, 2019. He needed to draw 9% of that balance ($19,800) as income in 2019-20.
Graham regularly draws amounts of $1,650 a month, so he has already taken out $14,850 this year. Combined with share market drops and low interest rates, his pension balance has now dropped to $168,000.
Graham wants to minimise how much he draws. The halving of the minimums means he can stop drawing any more income this year and take out less next year as well as he’s also eligible for the two cash bonuses that will be paid of $750 each by Centrelink, as he’s on the Age Pension also.
If you’d like to discuss if halving your account based pension is a good idea, contact your Gold Coast advisers at Wealth Planning Partners on 07 5593 0855.
Interest rates have been falling faster and longer than deeming rates for Centrelink and Veterans’ Affairs recipients. This makes it practically impossible to earn current deeming rates from bank accounts. So, what to deeming rate cuts mean for pensioners?
High risk vs High Return
Higher-risk investments (in better markets) may potentially produce higher returns. But, these are often not appropriate for people in aged care and can cause anxiety in times of volatility.
Calls to cut deeming rates have been made as part of stimulus measures and rates will be cut by 0.75% from May 1,2020.
This means higher pension entitlements and lower aged care means-tested fees for some. But, pensions will not change if the maximum pension is already received or entitlements are calculated under the assets test.
The impact of Deeming rate cuts
Case Study
When Edna moved into residential care, she sold her home to pay her $400,000 accommodation cost. She was left with $350,000 in the bank. She receives an age pension of $849.31 a fortnight and pays $1,133.96 a fortnight in residential care fees.
When deeming rates change on May 1, her pension will increase to $899.77 and fees will decrease to $1108.65 a fortnight. This improves her income by $75.77 a fortnight, which helps with extra income to meet her expenses.
Cash bonus
Aged Care residents who receive a means-tested pension (Centrelink/Veterans’ Affairs) or hold either a Commonwealth Seniors Health Card or Veterans Gold Card will receive two $750 cash payments as a boost to income. Awesome!
As a bonus, this money is tax-free and not assessable. The first payment will be paid into bank accounts over the next two weeks. The second payment will be paid in late July so keep your eyes peeled for these.
If you’d like to learn more about what the deeming rates cuts mean for you, please reach out to the Gold Coast financial advisers at Wealth Planning Partners to review your personal situation.
It’s paramount to have aligned goals with your partner when it comes to getting out of debt and increasing savings. Make it a goal to take the emotion out of money. Do you feel better when you have purchased something for yourself? It is giving oneself a good ‘pat on the back’ for working so hard. We are bombarded with marketing everywhere we turn. Billboards and advertising constantly play on our emotions. They tell us subliminally “if you buy this product, you will feel better about yourself.” Or “this will give people a better perception of how successful you are”.
